Microsoft has overtaken Apple as the largest U.S. company by market value.
Why it matters: It's a potential changing of the guard among tech titans.
The big picture: Microsoft has briefly overtaken Apple as the most valuable U.S. company on a couple of occasions since COVID hit.
- Microsoft's recent romp higher — it's up more than 60% over the last 12 months, compared to Apple's 38% — reflects the fact that it's seen as well positioned for the AI boom that many investors view as a near certainty.
State of play: Microsoft was roughly flat on Thursday while Apple had slipped by about 0.8% shortly before noon.
If this holds through the market's close, Microsoft will edge past Apple's market valuation.
- Adenman
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